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  • videocam On-Demand Webinar
  • signal_cellular_alt Intermediate
  • card_travel Tax Preparer
  • schedule 110 minutes

Forms W-8BEN and W-8BEN-E: IRC Section 1446(f) Withholding, Claiming Withholding Exemptions, and Treaty Benefits

$197.00

This course is $0 with these passes:

CPE
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About the Course

Introduction

This webinar will review the updated Series W-8 reporting requirements for Forms W-8 BEN-E, W-8 BEN, and W-8 ECI. Our panel of foreign tax veterans will provide a comprehensive review of the reporting requirements and an explanation of the underlying tax legislation necessitating the preparation of these forms.

Description

W-8 forms are submitted to businesses, not the IRS. Still, the preparation of these forms can allow foreign taxpayers to claim exemption from certain withholdings and treaty benefits.

There are obligatory withholding requirements under IRC Section 1446 on sales of interests in PTPs. A TIN is required for withholding under Section 1446(f). Without a valid TIN, mandatory 10 percent withholding on the amount realized is required.

Without a properly completed Form W-8 BEN-E, U.S. payers must collect 30 percent withholding on certain interest payments, dividends, and other income effectively connected with a U.S. trade or business. Using expired W-8 forms can subject taxpayers to these maximum statutory withholding rates. International tax practitioners and multinational companies should grasp the new items and requirements of the W-8 series forms.

Listen as our panel of international reporting experts explains how to correctly complete the newly added lines and boxes to Forms W-8 and recommendations for updating existing Forms W-8 before the impending deadline.

Presented By

Jack R. Brister, EA, MBA, TEP
Managing Member and Founder
International Wealth Tax Advisors, LLC

Mr. Brister has over 30 years of experience in forensic accounting, international tax and tax law consulting. Jack founded International Wealth Tax Advisors (IWTA) in 2015 to specialize in servicing international private clients, foreign businesses desiring to do business in the U.S., and individuals working and living abroad. He started his career embedded in the U.S. Internal Revenue Service’s Criminal Investigation Unit. He worked on a variety of multi-jurisdictional cases in cooperation with federal, state and local law enforcement agencies that investigate and prosecute tax evasion, as well as white collar crimes and violent crimes with a financial and tax component. Mr. Brister specializes in integrated income and estate tax planning. He consults extensively for global clients on the state and local tax implications arising when foreign businesses establish operations in the U.S or plan on selling their products to U.S. consumers. His extensive experience working with the IRS along with his almost encyclopedic knowledge of complex tax codes and tax laws enables him to help clients turn potential problems into opportunities and mitigate financial risk.

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Armin Gray
Managing Partner
Gray Tolub, LLP

Mr. Gray's practice is focused on tax controversy, IRS Offshore Voluntary Disclosure programs, FATCA, and international taxation. He is an adjunct professor at New York Law School where he teaches a course on the taxation of intangible property. He is a frequent presenter and writer on various corporate and tax topics. Prior to forming his firm, he was an attorney at several large law firms, where he focused on capital markets, financial products, international tax, and corporate and partnership tax.

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Benjamin Tolub
Managing Partner
Gray Tolub, LLP

Mr. Tolub formed GRAY TOLUB LLP in New York to better serve the firm’s international clientele, either based abroad and investing in the U.S. or based in the U.S. with multi-national assets.  Among other areas, he has extensive experience in U.S. real estate inbound transactions both from a tax and non-tax perspective.

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Credit Information

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

  • BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

Date + Time

  • event

    Monday, September 23, 2024

  • schedule

    1:00 p.m. ET./10:00 a.m. PT

  1. Series W-8 reporting background
  2. Recent updates
  3. W-8 BEN
  4. W-8 BEN-E
  5. W-8 ECI
  6. W-8 IMY
  7. Best practices

The panel will cover these and other significant issues:

  • Legislative background for the Series W-8 reporting forms
  • The 10 percent withholding requirement under IRC Section 1446(f)
  • Claiming treaty benefits on Line 10 of Form W-8 BEN
  • Best practices for updating existing Forms W-8

Learning Objectives

After completing this course, you will be able to:

  • Identify specific updates to Form W-8 BEN-E
  • Determine strategies for updating existing Forms W-8
  • Decide when revised Forms W-8 are required
  • Ascertain when 10 percent withholding is required under IRC Section 1446(f)
  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or public firm experience preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of international taxation including residency determination, foreign entity classifications, application of treaty benefits, as well as GILTI, Subpart F, and the related Section 250 deductions.

BARBRI, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

BARBRI CE webinars-powered by Barbri-are backed by our 100% unconditional money-back guarantee: If you are not satisfied with any of our products, simply let us know and get a full refund. Contact us at 1-800-926-7926 .